The Globe and Mail reports in its Wednesday edition that a consortium of investors led by Globalive says it has secured the federal government's approval to acquire Wealth One Bank of Canada, two years after Ottawa ordered three of its founding investors to divest their shares in the bank. The Globe's Alexandra Posadzki and Andrew Willis write that Globalive, a private company run by Anthony Lacavera, said in a statement that it has met all of the conditions to complete the acquisition and that the deal is expected to close within weeks. Wealth One is a Schedule 1 bank catering to Chinese-Canadian clients, and its assets total over $516-million, most of which are uninsured mortgages on residential real estate. Globalive had outlined a growth strategy based on expanding Wealth One's residential mortgage business and providing lines of credit to individual borrowers. Globalive's backers include high-net-worth families in Canada, Britain and the United States with experience investing in the financial sector. Mr. Lacavera founded Wind Mobile in 2008 with financial backing from Egypt's Naguib Sawiris. In 2016, it was sold for $1.6-billion to Shaw Communications, which renamed it Freedom Mobile. It is now owned by Quebecor.